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M&S to anchor Eastgate Quarter in Leeds

Monday January 14th 2008

Marks & Spencer has agreed to occupy 18,250 square metres of trading space in the Leeds development

Hammerson and Leeds-based Town Centre Securities gained planning permission for the scheme, located in the Eastgate and Harewood Quart
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ers of the city, in February last year. The scheme, to be developed in a 90:10 joint venture, will include 110,000 m of retail and also be anchored by a 26,000 m John Lewis store. It will include over 100 retail units, restaurants and bars, a hotel, office accommodation, up to 600 new homes and 2,700 associated car parking spaces.It is anticipated that construction of Eastgate Quarters will begin in 2009, with completion in 2012. The total cost of the development is estimated at 800 million, of which Hammerson's 90% share would amount to 720 million. John Richards, Chief Executive of Hammerson, said “I am delighted that one of the UK's most successful retailers has committed to our scheme. This is a major step forward in our bid to bring a retail offer of the highest quality to the people of Leeds and the surrounding areas. Securing Marks & Spencer as an anchor tenant is a great coup for the development.”